you have to just double click the layer to access tot he layer Style and in the Drop Shadow menu, you have to adjust it.

To have it around the object put the distance to 0 and increase the range of the shadow with the slider to your liking.

this is the simplist way to do and how most of the graphics designer do.

on thing to remember, is that your layer who contain the object that you want to drop shadow from have to be transparent, or use layer mask/vector mask so the shadow will drop around the object over the background, otherwise it will not work, and you have to define the object boundaries via some selection and masking tools before dropping the shadow.

A few HMTL editors will also let you place a drop shadow around a picture...similar to cell padding.
After placing the picture where you want it, you might be able to right-click it and go to "format picture"...
But like I said...it depends on the HTML editor you're using.

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